Power converters are used to convert electrical energy (e.g., converting Alternating Current (AC) to or from Direct Current (DC), changing voltage or frequency, or some combination thereof). In some applications, power conversion is provided by small electrical modules connected to a circuit board, generally including power conversion circuitry and an associated magnetic structure, such as an inductor. For example, in a side-by-side configuration, a power-Integrated Circuit (power-IC) chip is placed alongside an inductor on a circuit board. In another type of configuration, a power-IC is stacked on top of an inductor. In these configurations, the inductor modules are typically off-the-shelf components, or are realized using a ferrite/silicon substrate. Because of space or process constraints, a relatively small inductance value is achieved in these configurations, necessitating high switching frequencies that provide non-optimum performance. Further, heat generated by the power conversion process is typically conducted to the circuit board, which may be an undesirable thermal management solution. Moreover, stacking a power-IC on the top or bottom of a magnetic component may degrade the thermal or electrical performance of the system.